Coronavirus-induced shipping rates too low for some
Truck drivers are struggling with a new challenge during the coronavirus crisis – low shipping rates – as demand in the sector declines.
According to data from freight and analytics firm DAT, rates as of April 30 had fallen to five-year lows for both the reefer and flatbed equipment categories. For dry van freight, the national average was just $1.64 per mile.
“The current spot rates are extremely low and carriers will not be able to sustain operations very long at these levels,” the report read.
From Fox Business: Experts warn rates are below levels where companies can run trucks profitably